State Trade Expansion Program (STEP)

will be 25% of the sum of the Federal award and Recipient match amount. This means that for every $1 of Federal funds proposed, these Recipients must provide $.333333 in match.If an insular area non-Federal entity is an agency or instrumentality of the area’s government, pursuant to 48 U.S.C. § 1469a, SBA will waive up to $200,000 of the matching funds required if a STEP award is made to American Samoa, Guam, the U.S. Virgin Islands, or the Commonwealth of Northern Mariana Islands. If the insular area non-Federal entity is not an agency or instrumentality of the area’s government, the full matching funds requirement applies.Matching funds must be comprised of not less than 50% cash and not more than 50% of indirect and in-kind contributions. Matching funds may not be derived from any Federal program. Non-Federal entity personnel salary and fringe proposed as match will be counted as cash.Non-Federal entities may not use program income for the purpose of meeting their match.